The Hourly View for ETH
Last Updated October 28, 2020, 01:037 GMT
At the moment, ETH’s price is up $0.04 (0.01%) from the hour prior. ETH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on ETH. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Ethereum Daily Price Recap
The back and forth price flow continues for Ethereum, which started today off at 403.74 US dollars, up 2.7% ($10.63) from the previous day. This move happened on lower volume, as yesterday’s volume was down 34.21% from the day before — and down 8.73% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Ethereum below illustrates.
Ethereum Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 6 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From sassal0x:
I hate to say it but I feel like people outside of the Ethereum space have no idea that what’s launching in 2020 is not the full Eth2 suite.So here’s a PSA:What’s launching this year is Phase 0 of Eth2 which is Proof of Stake only – no sharding, no smart contracts, no txs.
- From RyanSAdams:
ETH will absolutely challenge BTC as money.ETH is already better money than BTC on Ethereum. ETH is the reserve currency of largest trustless economy the world has yet seen.If you think the tokens of ETH killers are the same as ETH, you don’t understand Ethereum.
- From lopp:
Pre “DeFi” era, smart contracts on Ethereum would get exploited due to lack of code analysis tools and lack of expert auditors.Now the growing problem is economic attacks that exploit interactions between different smart contracts. ETH’s complexity remains a double edged sword.
As for a news story related to Ethereum getting some buzz:
Ocean’s on Ethereum Mainnet. Ocean Protocol Network Deployments… | by Trent McConaghy | Oct, 2020 | Ocean Protocol
Ocean Protocol V3.0 is now deployed to Ethereum mainnet….We can deploy Ocean to Ethereum Mainnet now….Ocean V3.0 is deployed to Ethereum mainnet….OCEAN tokens remain on Ethereum mainnet; therefore no bridge to Ethereum mainnet is needed for utility of Ocean smart contracts….In all these deployments, OCEAN tokens will remain on Ethereum mainnet, and bridged to other networks….Ocean V3.0 has been deployed to Ethereum Mainnet.